ETHLend announces LEND token pre-sale ICO
ETHLend is a decentralized peer to peer lending application built on top of the Ethereum Network, using Blockchain technology to enable secure and transparent lending.
ETHLend(New Cryptocurrency 2017) is developing a global lending market where borrowers and lenders from all parts of the world can participate in lending. The aim of ETHLend is to provide a transparent and global lending market and to erase interest rate differences between countries by providing more liquidity to local lending markets. ETHLend solves key issues regarding to collaterals, decentralized credit rating and exchange volatility risks, which enables the concept of decentralized lending experience.
The team behind ETHLend consists of 20 people who share the same aim to deliver decentralized lending to everyone. ETHLend(New Cryptocurrency 2017) differs from most Blockchain startups by the fact that the team introduced their alpha release in early May this year. Based on the practical findings, ETHLend provided a detailed White Paper on how decentralized lending might revolutionize the lending industry permanently.
Unlike other ICOs and token sale projects, ETHLend is betting big on Indian Subcontinent especially India under the guidance of Opinder Preet Singh, the Local Advisor of ETHLend where team is coming up with four regional languages Hindi, Punjabi, Bengali and Kannada to spread the use case of lending on ground level to local audience of Indian subcontinent. ETHLend, in association with Jaarvis Accelerator already conducted one Hackathon in July, 2017 to promote Blockchain technology among future programmers and helping India becoming leader in this nascent space.
ETHLend is further in talks with two Indian state governments to conduct and mentor around 20+ colleges for solving underlying problems in Indian ecosystem using Blockchain technology. ETHLend will be further participating in India Blockchain Week (IBW 2017) on 22nd September to spread the word about real lending solution among Indian Industry veterans that ETHLend is going to provide and look forward to meet young aspirants who are willing to bring a change in India and other developing nations through us.
While ETHLend is continuing to develop the decentralized application further, the team also revealed details on the upcoming pre token sale. ETHLend introduces LEND token for contributors who are participating in the token sale. The main utility function of LEND is the ability to use it for paying deployment fees on ETHLend with a 25% discount compared to ETH. Additionally, ETHLend shall provide other privileges for LEND token holders based on the community suggestions once the DAPP has grown into a full scale lending market.
Moreover, ETHLend will use 5% + additional 1-5% (depending on the previous year’s growth) of the application deployment fees to buy back LEND from the market and burn it. The idea is to buy LEND that is not used on ETHLend from the market to maintain the value of LEND. The effect is that the total supply of LEND is decreasing overtime and the percentage of the token holders ownership on LEND increases. Thus, ETHLend aims to deliver a strong token to the market.
The participants in pre-token sale will receive 20% bonus tokens as a reward for early contribution. The funding aim concerning the pre-token sale is 2000 ETH (6% of total sold token), which will be used for financing further research and development of our decentralized lending application. The purpose of the pre-sale is also to prepare for the upcoming official token sale on the 25 November 2017.
The latest and the most exciting news for ETHLend Team is that the ETHlend ICO has been recently rated 4.5 out of 5 by ICOBench.com. Check it out here
ETHLend pre-sale ICO details:
Starting: 25 September 2017 at 12.00 GMT
Ending: 25 October 2017 at 23.59 GMT or when the cap is reached
Amount to Raise: 2000 ETH
Token for Sale: 60,000 000 LEND (6% of total sold tokens)
Lend Token Price: 30,000 LEND = 1 ETH
(price includes 20% bonus tokens for all pre-sale participants)
Minimum amount to participate: 1 ETH
Pre-sold tokens are deducted from the 1 000,000,000 LEND sold on official token sale. Additional 300,000,000 LEND is contributed to founders and developers fund to compensate the current and future efforts on ETHLend and to attract new talent on board.
Official ETHLend token sale ICO details:
Starting: 25 November 2017 at 12.00 GMT
Ending: 9 December 2017 at 23.59 GMT or when the cap is reached
Amount To Raise: 37,600 ETH
Token For Sale: 1 000,000,000 LEND (deducted by pre-sold tokens)
Lend Token Price:
- First 200,000,000 LEND: 27,500 LEND = 1 ETH (price includes 10% bonus tokens)
- Next 100.000,000 LEND: 26,250 LEND = 1 ETH (price includes 5% bonus tokens)
- Remaining LEND: 25 000 LEND = 1 ETH
Minimum amount to participate: 0.01 ETH
Participate in ETHLand ICO and experience the Decentralization of Peer-to-Peer Lending.
Follow ETHLend Team:
Discord (Latest news and voice chats): https://discord.gg/nKjsStv
DAPP Thread: https://bitcointalk.org/index.php?topic=2013399